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Incoming Tax in India Increases; Indonesia Needs to Do Lobby31 August 2017 , 06:42 WIB | Read : 113 | By : Administrator
InfoSAWIT, JAKARTA - In this recent days, India increased the incoming tax on crude palm oil (CPO) from Indonesia up to 100%. The country increased the incoming tax from 7,5% to be 15%.
Chairman of Indonesian Palm Oil Association (IPOA), Joko Supriyono hoped, the government should handle this by making lobby with India, just as Malaysia also does.
“I still communicate, when it will run. It is said, in this August, it would be running. Malaysia also gets it but the country intensively does lobby. The point is, there has been billateral agreement between India and Malaysia. That is why, the bergaining position should be better. Indonesia should explore it,” Joko said in the Ministry of Agriculture, as quoted from detik.com.
“I went there for several times. One thing to focus was about the export tax regulation. Indonesia and India should intensively discuss the billateral cooperation. It should be. There is no billateral trade between Indonesia and India. The agreement is with ASEAN. But it is different,” he said.
He also mentioned, the incoming tax which increases 100% would make the CPO price from Indonesia less competitive. Besides, it would be a loss for the consumers in India for the CPO product price would be influenced too. The palm oil exports from Indonesia to India in every single year reach 5 million tons.(T3)